WTI Oil ($US/bbl)

WCS Oil ($US/bbl)

JULY

JAN – JUL (AVERAGE)

TREND

2015

2016

% CHANGE

2015

2016

% CHANGE

$43.49

$32.80

-24.6%

$40.61

$26.76

-34.1%

Source: Alberta Energy (Jan 2009 to present)

Analysis

PUBLISHED – Aug 26, 2016

The West Texas Intermediate (WTI) price of oil, often a world reference price quoted in the media, averaged US$44.80 a barrel in July 2016, 12.0% lower than it was a year earlier. Western Canada Select (WCS), the price obtained for many Alberta producers for oil, was down from US$43.49 in July 2015 to US$32.80 in July 2016, a fall of 24.6%, and down $3.67 from June. The July price differential of WTI over WCS was US$12.00.